B. Riley Wealth Advisors Inc. Trims Stock Holdings in Global Medical REIT Inc. (NYSE:GMRE)

B. Riley Wealth Advisors Inc. cut its holdings in shares of Global Medical REIT Inc. (NYSE:GMRE) by 20.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 19,357 shares of the company’s stock after selling 4,948 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Global Medical REIT were worth $193,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. State Street Corp grew its stake in Global Medical REIT by 1.5% in the third quarter. State Street Corp now owns 1,924,433 shares of the company’s stock worth $19,468,000 after purchasing an additional 28,444 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Global Medical REIT by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,622,159 shares of the company’s stock worth $16,078,000 after acquiring an additional 18,209 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Global Medical REIT by 78.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,183,477 shares of the company’s stock valued at $10,746,000 after acquiring an additional 520,583 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Global Medical REIT by 0.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 872,996 shares of the company’s stock valued at $7,927,000 after acquiring an additional 6,676 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Global Medical REIT by 5.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 853,103 shares of the company’s stock valued at $8,454,000 after acquiring an additional 41,172 shares in the last quarter. 57.52% of the stock is owned by institutional investors and hedge funds.

Global Medical REIT Price Performance

Shares of NYSE:GMRE opened at $7.86 on Monday. The stock has a market cap of $525.07 million, a price-to-earnings ratio of -392.80, a PEG ratio of 1.47 and a beta of 1.21. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.28 and a quick ratio of 0.28. Global Medical REIT Inc. has a 12 month low of $7.68 and a 12 month high of $11.59. The stock’s 50 day moving average price is $8.88 and its 200 day moving average price is $9.18.

Global Medical REIT (NYSE:GMRE) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.18). The firm had revenue of $34.26 million during the quarter, compared to the consensus estimate of $34.88 million. Global Medical REIT had a return on equity of 0.86% and a net margin of 3.23%. During the same period in the prior year, the firm posted $0.23 EPS. Equities research analysts anticipate that Global Medical REIT Inc. will post 0.83 earnings per share for the current fiscal year.

Global Medical REIT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 10.69%. The ex-dividend date of this dividend is Friday, December 20th. Global Medical REIT’s payout ratio is -4,200.00%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GMRE. Alliance Global Partners began coverage on shares of Global Medical REIT in a report on Thursday, September 19th. They set a “buy” rating and a $12.00 target price on the stock. Berenberg Bank assumed coverage on shares of Global Medical REIT in a report on Friday, October 18th. They issued a “buy” rating and a $11.75 target price on the stock.

About Global Medical REIT

Global Medical REIT Inc (GMRE) is a net-lease medical office real estate investment trust (REIT) that owns and acquires healthcare facilities and leases those facilities to physician groups and regional and national healthcare systems.